MACY’S has confirmed the latest store in an iconic city that is set to close – and fans believe “the entire industry is dying.”
As the retail sector continues to struggle with rising costs and consumer spending habits, Macy’s closes yet another major spot.
ReutersAs the retail sector continues to struggle with rising costs and consumer spending habits, Macy’s closes yet another major spot[/caption]The US Sun reported back in March that Macy’s was closing its flagship store in Center City, Philadelphia.
The location had stood in the city for 20 years before it was erased from existence.
The closure was part of Macy’s brutal restructuring plan that looks to axe unprofitable stores.
In February 2024, the company announced its intention to close an additional 150 underperforming stores.
At the time, Tony Spring, chairman and chief executive officer of Macy’s said: “We are closing underproductive Macy’s stores to allow us to focus our resources in our go–forward stores.”
Now, another major Macy’s has officially been put up for sale in the US.
WHIO reports that the last Macy’s in Dayton, Miami has been set for the chopping block.
It was put up for sale on Friday and is set to close by the end of the year.
The spot is located in the Miami Township and stands at a massive 263,566 square feet.
It dates back to 1969 and has three floors.
While there is no official closing date yet, shoppers don’t have long left until Macy’s fades from the area completely.
SHOPPERS REACT
On social media, consumers believe that this marks a specific point in the lifespan of the department store, at least in the Dayton area.
A post on Facebook announcing the news reflected the indignant tone many others shared in the comments.
The caption of the post said: “Looks like the rumors were correct.
“Dayton is going to become Macy-less.
“Great news for Von Maur, the only department store left in Dayton.
“I can’t believe people still stick up for Macy’s. Federated owned this region.
“They used to be based here. Macy’s urinated it all away. Incompetent.”
US braces for '45,000 store closures'
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
One person said in the comments: “The entire industry is dying.”
And another added: “In my mind the first step of the decline of department stores was when anything unique or was an experience was taken out—nice little restaurants, unique merchandise, etc and they turned both expensive and sterile.”
However, one person did defend the decline of tbhe department store, emphasising the changes the industry has faced over the last decade.
The person wrote: “I could not disagree with you more.
“What has happened to Macy’s is out of their control. Retail has changed dramatically in the past 10 to 15 years.
“The way consumers buy has shifted. Also, sales have been decreasing in department stores for decades.”
AlamyThe last Macy’s in Dayton, Miami has been set for the chopping block[/caption] Read More Details
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